StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

Advanced Management Accounting - Total Quality Management (TQM) - Assignment Example

Cite this document
Summary
The introduction of new digital methods and techniques; along with other advances in business and industrial disciplines have forced the organizations taking up new methods. T.Q.M…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER97.3% of users find it useful
Advanced Management Accounting - Total Quality Management (TQM)
Read Text Preview

Extract of sample "Advanced Management Accounting - Total Quality Management (TQM)"

Download file to see previous pages

tion dynamics, provide an insight into the advantages that can be enacted through its integration, the possible drawbacks of T.Q.M and the considerations that need to be taken into account in case of its implementation, and finally, providing recommendations about its application with context to Spearhead Ltd. Reduced profits and shrinking in the network has brought about realization towards implementing quality system. T.Q.M being the front runner amongst quality systems has been suggested for implementation. T.Q.

M is acronym for Total Quality management. As the name would imply, it pertains to quality management. Further dissection of the meaning would provide an insight into the nature and domain of operational capacity it entails. It refers to integrating quality mechanism in the every discipline and every domain of the organizational structure (MUKHERJEE, 2006, p. 393). Since Spearhead Ltd is faced with financial sink age, the addressing of different areas is required. T.Q.M would enable this. The low productivity in the financial sector impacts the clients’ satisfaction as well as the overall mood of the organization.

Citing this, T.Q.M will enable undertaking a strategy that would enable overcoming the financial constraints. The domains of T.Q.M are not just limited to particular processes; rather it takes into account the working methods of the employees. The behaviour of the employees towards goals accomplishment along with the aptitude towards accomplishment of the goals and targets set forth. The focus of attention is the activities and the items used within as well. The use of the right of tools and techniques towards the accomplishment of tasks also entails the domain and consideration within a T.Q.M integrated system.

Spearhead Ltd must look into the areas where wastes are high in percentage .The wastes are defined as those items, products and activities that do not add any value to the organizational activity or overall output. They in turn

...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Advanced Management Accounting - Total Quality Management (TQM) Assignment”, n.d.)
Advanced Management Accounting - Total Quality Management (TQM) Assignment. Retrieved from https://studentshare.org/finance-accounting/1635918-advanced-management-accounting-total-quality-management-tqm
(Advanced Management Accounting - Total Quality Management (TQM) Assignment)
Advanced Management Accounting - Total Quality Management (TQM) Assignment. https://studentshare.org/finance-accounting/1635918-advanced-management-accounting-total-quality-management-tqm.
“Advanced Management Accounting - Total Quality Management (TQM) Assignment”, n.d. https://studentshare.org/finance-accounting/1635918-advanced-management-accounting-total-quality-management-tqm.
  • Cited: 0 times

CHECK THESE SAMPLES OF Advanced Management Accounting - Total Quality Management (TQM)

Financial Performance of Pace Leisurewear Ltd through Appropriate Theory and Relevant Techniques

These studies help management identify deficiencies and then take actions to improve performance.... (2007) assessed the fixed asset turnover ratio measures how effectively the firm uses its fixed assets and total asset turnover measures the turnover of the entire firm's asset.... So, Debt ratio, debt to equity ratio, long term debt to total capitalization ratio have been drawn....
4 Pages (1000 words) Research Proposal

Accounting in its organisational context

In addition, the number of inspections that have been done in order to determine if the repair shop employees are doing their jobs to comply with the minimum benchmark in terms of job cost and quality is another cost driver that puts activity based costing in high demand.... On the other hand, the activity based costing allocates total costs using the different activities and processes in servicing a customer or groups of customers.... In addition, the new activity based costing method is better than the traditional costing method because this new costing method distributes the total estimated cost of service organisation using the daily service activities (Caplan et al....
7 Pages (1750 words) Essay

International Marketing Strategy

management can aid... Introduction: Laura Ashley Plc.... is a small family company with very specialized products spread in the Europe, UK and US.... Started by the Ashleys in 1953 the company kept on embracing new products and companies and integrated vertically.... The key for the significance and the competitive edge of the company was the design philosophy of Laura Ashley....
10 Pages (2500 words) Assignment

Globalisation of Economics and Development of International Trade

Not without reason in countries with developed industry majority of firms and companies use different kinds of systems of quality management.... Up to 40 and more percent of strength of workers involved in manufacture, that in its turn has caused irrational increase of expenses for quality management and, hence, has lowered efficiency of production.... Globalisation of economics and development of international trade and industrial connections constantly advance the requirements of customers to the quality of products....
20 Pages (5000 words) Essay

Analysis of a Bankruptcy for a Firm

The finest ratios were the “working capital funds flow/ total assets”, and “net income/ total assets”.... The first is the accounting based models, which include logistic regression models....  This essay discusses bankruptcy for a firm its inability to meet its contractual commitments The two most important factors in a bankruptcy are the extent to which a firm's debt exceeds its assets, and its inability to pay its debt as it comes due....
4 Pages (1000 words) Essay

Strategic Management within the Framework of Total Quality Service

Therefore all the major companies round the globe have set customer satisfaction as the prime objective leading to evolution of total quality management.... total quality management has deep implications on human resource management.... However, before discussing the concept of tqm one has to explain quality.... The concept of tqm has existed for many years, although the meaning and perception towards tqm has evolved over the year....
10 Pages (2500 words) Essay

Inventory Management

Some of the available inventory management tools include ABC analysis, Economic Order Quantity (EOQ), Discounted EOQ, Vendor managed Inventory (VMI), LP, MRPII, tqm, ERP, KANBAN, and collaborative planning among others.... Therefore, inventory management should be done proficiently and professionally.... Kotler (2000) has defined inventory management as activities that are involved in the… of inventories and the subsequent management for raw materials, the work-in-progress, as well as the final products in an effort to facilitate cost reduction....
5 Pages (1250 words) Assignment

Management Decision Making

hellip; The report further proceeds to examine the use of financial and non-financial information for controlling, planning and decision The report has also examined little management accounting techniques.... Finally, the report has attempted to evaluate some current techniques that are appropriate for strategic management accounting.... Any organization that is led by an effective management team will experience maximum productivity, low turnover, a rise in bottom line outcomes and a high stature of talent....
5 Pages (1250 words) Coursework
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us